Spring Hill is located in a good market for 5+ unit multifamily loans. Multifamily loans in Spring Hill are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Spring Hill are competitive. Spring Hill apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Spring Hill.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Spring Hill are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.99% - 7.23% |
| 7 Year Fixed | 6.73% - 6.97% |
| 10 Year Fixed | 6.69% - 6.93% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 6.10% - 6.20% |
| 7 Year Fixed | 6.11% - 6.21% |
| 10 Year Fixed | 6.04% - 6.34% |
All major multifamily lender types are lending in Spring Hill.
The city of Spring Hill in Hernando County has a population of 111,076. The median rent in Hernando County for a 2 bedroom is $1,375. The median Spring Hill resident is 44 years old with a yearly income of $25,568. The average family has 3.03 members and a median household income of $51,395. Spring Hill has a 18% higher education rate. The unemployment rate in Spring Hill is 6.3%.
24.6% of Spring Hill households are renters.
33.6% median household income spent on rent.
Bedrooms |
Hernando County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $1,070 | $822 | $737 |
| 1 bedroom | $1,125 | $891 | $813 |
| 2 bedroom | $1,375 | $1,089 | $1,015 |
| 3 bedroom | $1,786 | $1,448 | $1,325 |
| 4 bedroom | $2,194 | $1,716 | $1,521 |
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